Relevance of ownership structure on profitability and financial policies
This study examines empirically the impact of ownership structures on a firm's financial performance, dividend and financial policies adopted and directors' remuneration package. Based on agency theory, we postulate that ownermanaged firms outperform non-owner managed firms. This...
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| Main Authors: | , , |
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| Other Authors: | |
| Format: | Final Year Project |
| Language: | English |
| Published: |
2014
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| Subjects: | |
| Online Access: | http://hdl.handle.net/10356/58593 |
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| Institution: | Nanyang Technological University |
| Language: | English |
| Summary: | This study examines empirically the impact of ownership structures on a firm's
financial performance, dividend and financial policies adopted and directors'
remuneration package. Based on agency theory, we postulate that ownermanaged
firms outperform non-owner managed firms. This study is carried out
based on a sample of firms listed on the Stock Exchange of Singapore.
We relax the assumption of homogeneity within the owner-managed and nonowner
managed firms to evaluate the effect of different ownership structures on
performance. While the tests fail to reveal any significant differences between
the performance of our sampled firms, they provide valuable insight into the
role which ownership structures play in determining a firm 's financial
performance, capital structure, dividend policies adopted as well as the
directors' remuneration schemes. |
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